BB&T (NYSE:BBT) had its price target hoisted by BMO Capital Markets to $64.00 in a research report report published on Friday, January 19th. BMO Capital Markets currently has a market perform rating on the insurance provider’s stock.
BBT has been the subject of several other research reports. Zacks Investment Research downgraded BB&T from a hold rating to a sell rating in a research note on Tuesday, October 10th. Morgan Stanley lifted their price target on BB&T from $47.00 to $50.00 and gave the stock an underweight rating in a research note on Friday, October 20th. Barclays lifted their price objective on BB&T from $51.00 to $57.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Vining Sparks reiterated a buy rating and set a $59.00 price objective on shares of BB&T in a research report on Monday, January 8th. Finally, Raymond James Financial upgraded BB&T from a market perform rating to an outperform rating in a research report on Tuesday, January 9th. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. BB&T currently has an average rating of Hold and an average price target of $53.52.
BB&T (NYSE:BBT) traded up $1.41 during trading on Friday, reaching $54.74. The company’s stock had a trading volume of 3,118,099 shares, compared to its average volume of 4,490,000. BB&T has a 12 month low of $41.17 and a 12 month high of $55.99. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $43,190.00, a P/E ratio of 19.98, a P/E/G ratio of 1.36 and a beta of 1.06.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.86 billion. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. equities analysts anticipate that BB&T will post 3.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 9th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, February 8th. BB&T’s payout ratio is currently 48.18%.
In other news, insider Donna C. Goodrich sold 10,799 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total transaction of $505,069.23. Following the completion of the sale, the insider now owns 47,182 shares in the company, valued at approximately $2,206,702.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nido R. Qubein sold 21,025 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $54.50, for a total value of $1,145,862.50. Following the sale, the director now owns 59,513 shares of the company’s stock, valued at approximately $3,243,458.50. The disclosure for this sale can be found here. Insiders have sold a total of 152,923 shares of company stock valued at $8,274,322 in the last quarter. Company insiders own 0.36% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. First Merchants Corp lifted its position in BB&T by 9.1% during the 3rd quarter. First Merchants Corp now owns 80,743 shares of the insurance provider’s stock worth $3,790,000 after acquiring an additional 6,753 shares in the last quarter. Bank of Hawaii acquired a new position in BB&T during the 3rd quarter worth approximately $657,000. Bank of New York Mellon Corp lifted its position in BB&T by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock worth $414,436,000 after acquiring an additional 86,200 shares in the last quarter. Suntrust Banks Inc. lifted its position in BB&T by 4.0% during the 2nd quarter. Suntrust Banks Inc. now owns 331,815 shares of the insurance provider’s stock worth $15,066,000 after acquiring an additional 12,702 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its position in BB&T by 8.1% during the 3rd quarter. State of Wisconsin Investment Board now owns 619,383 shares of the insurance provider’s stock worth $29,074,000 after acquiring an additional 46,160 shares in the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
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BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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